Diabetes is well on its way to becoming a global epidemic, and India is one of the worst affected countries. BeatO came into existence when Yash Sehgal, the founder, then only 34 years of age, was diagnosed with diabetes. A chance meeting with his childhood friend Gautam Chopra resulted in identifying a genuine gap in diabetes care facilities. This propelled the duo to leave their cushy jobs and join hands with Abhishek Kumar—who was Gautam’s batchmate at ISB Hyderabad—to launch BeatO.
“BeatO, short for beating the ring ‘O’ of diabetes (the universal symbol of the disease), is India’s first and only full stack digital solution for managing diabetes,” says Chopra. “It is fast emerging as a preferred solution for holistic diabetes care and management in India.”
At the core is BeatO’s Smartphone Glucometer, which easily plugs into the audio jack of a smartphone. “When you take a reading, it resides on the BeatO mobile app. The readings are saved on the cloud and the app provides personalised insights based on every user’s data. Apart from your family, the readings are also immediately sent over to your certified diabetes expert who proactively guides you in managing diabetes,” he informs.
In its core team (tech as well as business), there are Type 1 and Type 2 diabetics, with real-life knowledge of the condition and how to beat it. Their focus is entirely on diabetes management and this is what sets them apart from other players in the market. Chopra says, “The BeatO team ensures that diabetes education is made exciting. Curated by a creative team, the content is humorous and engages the readers with witty tag lines and fun posts. There is also the provision of an anytime chat with a diabetes educator online that helps users get answers to queries and concerns.”
BeatO’s key diabetes specific categories of eatables include snacks (karela baked chips, trail mix, seeds); staples ( methi daana atta, red rice); breakfast staples (e.g. oats, poha); juices and vinegars; sugar alternatives (e.g. Stevia). The start-up also offers a range of diabetic-friendly footwear.
Just two years into inception, BeatO already serves more than 25,000 customers living with diabetes using its smartphone-based monitoring solution. It has catered to customers in 1500 cities till date who are not limited to the metro cities, but live as far as Baramullah in Kashmir. This depicts the powerful impact that a virtual and holistic solution can have in democratising healthcare. It has close to 100,000 app downloads, about 15,000 Smartphone Glucometer users, and is adding about 75 to 100 users daily.
BeatO is also clocking gross revenue of `2 lakh daily with 5,000 transactions a month, hitting a positive contribution margin of 25%. BeatO has grown 10x in revenue, in the first two years of operations and matched its second-year performance in just one quarter this year. BeatO boasts of having facilitated more than 250,000 glucose tests with over 80% repeat order rate of acquired customers.
BeatO recently raised funding of $1.3 million from investors led by Blume Venture Capital and co-led by Leo Capital. BeatO had earlier raised angel funding from investors including Rajeev Chitrabhanu, an early investor in Nazara Technologies and Rentomojo, and Vishal Sampat, who besides being an angel investor is also the founder of Convonix, India’s largest digital agency acquired by Publicis.